Related Articles

Groupon has faced scrutiny over its books ever since it announced plans to go public in June 2011. The daily deal operator revised its statements several times prior to going public. And in March, just months after it began trading, Groupon had to restate its earnings after underestimating the reserves required to handle refunds for high-priced items like a three-course tasting menu at a tony restaurant. The company’s auditors, Ernst & Young LLP, also found that the company had a material weakness in its internal controls, which means the internal controls Groupon has in place to prevent financial statement irregularities were ineffective.

Joe Del Preto, who previously held the position of chief accounting officer, will remain at Groupon in the role of vice president and global controller. He’ll report to Stevens.